When selling your New York home there are a number of things that must be done. Refer to this handy checklist to ensure that you are on the right track!

1. Decide to sell:  Before you can decide to sell, you need to know why you want to sell, i.e., upgrading to a larger home, downsizing, relocating for a job, etc. Knowing why you want to sell will help you determine the appropriate time frame for your sale, and will help you keep a realistic perspective on your selling goals.
2. Hire a REALTOR: It is recommended that you interview 2-3 real estate agents. You should ask them the following questions:
1. Are you a full-time professional real estate agent? How long have you worked full time in real estate? How long have you been representing buyers? What professional designations do you have?
   Knowing whether or not your agent practices full time can help you determine potential scheduling conflicts and his or her commitment to your transaction. As with any profession, the number of years a person has been in the business does not necessarily reflect the level of service you can expect, but it is a good starting point for your discussion. The same issue can apply to professional designations.
2. Do you have a personal assistant, team or staff to handle different parts of the purchase? What are their names and how will each of them help me in my transaction? How do I communicate with them?
   It is not uncommon for agents who sell a lot of houses to hire people to work with them. As their businesses grow, they must be able to deliver the same or higher quality service to more people.
   You may want to know who on the team will take part in your transaction, and what role each person will play. You may even want to meet the other team members before you decide to work with the team. If you have a question about fees on your closing statement, who would handle that? Who will show up to your closing?
3. Do you have a Website that will list my home? Can I have your URL address? Who responds to emails and how quickly? What's your email address?
   Many buyers prefer to search online for homes because it's available 24 hours a day and can be done at home. So you want to make sure your home is listed online, either on the agent's Website or on their company's site. By searching your agent's Website you will get a clear picture of how much information is available online.
4. How will you keep in contact with me during the selling process, and how often?
   Some agents may email, fax or call you daily to tell you that visitors have toured your home, while others will keep in touch weekly. Asking this question can help you to reconcile your needs with your agent's systems.
5. What do you do that other agents don't that ensures I'm getting top dollar for my home? What is your average market time versus other agents' average market time?
   Marketing skills are learned, and sometimes a real estate professional's unique method of research and delivery make the difference between whether or not a home sells quickly. For example, an agent might research the demographics of your neighborhood and present you a target market list for direct marketing purposes.
6. Will you give me names of past clients?
   Interviewing an agent can be similar to interviewing someone to work in your office. Contacting references can be a reliable way for you to understand how he or she works, and whether or not this style is compatible with your own.
7. Do you have a performance guarantee? If I am not satisfied with your performance, can I terminate our listing agreement?
   In the heavily regulated world of real estate, it can be difficult for an agent to offer a performance guarantee. If your agent does not have a guarantee, it does not mean they are not committed to high standards. Typically, he or she will verbally outline what you can expect from their performance. Keller Williams® Realty understands the importance of win-win business relationships: the agent does not benefit if the client does not also benefit.
8. How will you get paid? How are your fees structured? May I have that in writing?
   In many areas, the seller pays all agent commissions. Sometimes, agents will have other small fees, such as administrative or special service fees, that are charged to clients, regardless of whether they are buying or selling. Be aware of the big picture before you sign any agreements. Ask for an estimate of costs from any agent you contemplate employing.
9. How would you develop pricing strategies for our home?
   Although location and condition affect the selling process, price is the primary factor in determining if a home sells quickly, or at all. Access to current property information is essential, and sometimes a pre-appraisal will help. Ask your agent how they created the market analysis, and whether your agent included For Sale by Owner homes, foreclosed homes and bank-owned sales in that list.
10. What will you do to sell my home? Who determines where and when my home is marketed/ promoted? Who pays for your advertising?
    Ask your real estate agent to present to you a clear plan of how marketing and advertising dollars will be spent. If there are other forms of marketing available but not specified in the plan ask who pays for those. Request samples or case studies of the types of marketing strategies that your agent proposes (such as Internet Websites, print magazines, open houses, and local publications).
3. Set an Asking Price: An all too common mistake that Sellers make is selecting the agent that appraised their home the highest.  If 2 agents came into your home and recommended an asking price of $529K, for example, and the third agent tells you the recommended listing price is $599K you should really ask yourself why? One of three things is likely happening. 1. The third agent is really not familiar with your local marketplace; 2. The third agent did not do a proper Current Comparative Market Analysis (CMA); 3. The third agent is trying to BUY your listing.  When an agent tries to BUY your listing ultimately the only person that gets hurt is the Seller. Pricing too high is as bad as pricing too low.   If you list too high, you'll miss out on buyers looking in the price range where your home should be.  The buyers that will come in will have a different set of expectations, and your home will disappoint them. Offers may not even come in, because buyers who are interested in your home are scared off by the price and won't even take the time to look at it.  By the time you correct the price and list your home at its fair market value, you will have lost that window of opportunity when your home draws the most attention from the public and real estate agents; i.e. the first 30 days that it is on the market.  A well-trained real estate agent who looks out for your best interests will consult with you on your home's fair market value and different pricing strategies for the current market.  See the charts below, and call Cristina at 917-921-5397 to have her explain these market nuances in more detail to you.

Effect of Over-Pricing on Selling Time & Price:

Interest vs. Weeks on the Market

1. Prep Your Home for Sale: Cristina will make recommendations for Staging and clean-up at the time you list your home. You can also read her her helpful guide by clicking here.
2. Implement a Marketing Strategy: Cristina will begin marketing your home in the ways you discussed on your listing appointment.
3. Get Ready for Showings: Cristina and the Keller Williams team will begin scheduling showings of your home.
4. Hire a Real Estate Attorney: Once your home is actively being shown, it is wise to hire a Real Estate Attorney - this way when an offer is received and accepted a Contract can immediately be sent out to the Buyer's Attorney.
5. Receive an Offer(s): Cristina will conduct all negotiations with Buyers and Real Estate Agents on your behalf. She will present all offers to you the same day, and will explain the positives and negatives of each offer to you. You will make the final decision on whether to accept or not.
6. Inspections: After an offer has been accepted most buyers will want to have the property inspected by a Licensed Property Inspector. Cristina will attend the inspection with the buyers. It is wise that you are not home during the inspection process, as the home can become quite crowded, and the buyers will generally feel less uncomfortable if you are not there. If the inspector finds meaningful defects with your home, i.e., termites, faulty plumbing, leaky roof, etc. the buyer may try to re-negotiate the selling price. It is critical to work with an agent, like Cristina, that has extensive experience in these types of negotiations working on your behalf.
7. Go into Contract: After an offer has been accepted, and  Cristina will send the deal particulars to your attorney. He/she will then prepare a contract to be sent to the Buyer's Attorney for review. The two Attorneys will discuss the verbiage and terms written in the proposed contract, and if all is acceptable the Buyer of your property will be called into their attorney's office to sign the contract, and bring the initial down payment check. This check will be deposited into an Escrow Account, and it is generally 5-10% of the purchase price. The Buyer's Attorney will then send a contract to your attorney. Your attorney will review the contract once more, and if all is well will request that you come to his/her office to sign. Once signed your attorney will Execute the contract, and your property will become "IN CONTRACT." It is important to note that time is of the essence - up until contract execution a buyer can back out at any time. It is recommended that you hire a Real Estate Attorney with extensive experience; this way if any problems arise your attorney has the experience, know-how, and resources to resolve any issues. Cristina can recommend a number of Real Estate Attorneys that have a proven track record in New York.
8. Find a New Place to Live: Once you are in contract it is a good time to begin searching for a new home. Cristina can help you find the right home, and coordinate the timing of your purchase and sale to make it as stress free as possible.
9. Bank Appraisal: The Buyer's lender can order up to 2 independent appraisals of your home. Cristina will accompany the appraiser to your property and will provide him/her with comps. Once again, it is critical to have an experienced agent on your side that can speak to the bank on your behalf should the home appraise below the selling price.
10. Mortgage Commitment: Once the buyer receives a commitment letter from his/her lender a closing can be scheduled by your attorney.
11. Moving: Now is the time for you to begin moving (if you haven't started already). Read Moving Tips to help you get started.
12. Final Walk-through: On the day before, or day of closing the buyers of your property will conduct a final walk-through inspection. Primarily, they are checking that you are leaving the home in the same condition as the time in which they entered into contract with you. Their agent will have them sign-off that all was acceptable, and this will be brought to the closing for your attorney's records.
13. Closing Day: Your closing date, time and location will be provided to you prior to the closing day. If you cannot attend you will need to appoint someone (usually your attorney) as with a Power of Attorney. If you do attend your Lawyer will tell you what you need to bring with you.  Once the paperwork is all signed you will be given the proceeds to your home, and you will pass the keys off to the new buyers.

If you have any questions about the Home Selling Process please don't hesitate to call Cristina directly at 917-921-5397 - she will be happy to answer any of your questions.